Punjab Budget To Be Presented Today, Industry Bodies Hope For VAT Backlog Clearance

The Bhagwant Mann led Aam Aadmi Party government in Punjab will be presenting the annual budget in the state assembly on Friday. 

The budget comes after the recent Progressive Punjab investors summit and the industries in the state are hopeful of the budget giving a push to improving the infrastructure facilities in the state. 

Unlike last year when finance minister Harpal Singh Cheema had met the industry bodies to ask for their suggestions before the budget, this year no such exercise was undertaken. 

According to industry sources, the industry bodies have submitted a list of demands to the finance minister and the CM earlier. 

These demands include construction of good quality roads in the industrial town of Ludhiana. Ludhiana happens to be one of the biggest industrial hubs in Punjab and poor infrastructure has resulted in deteriorating industrial scenario in the city. 

Similarly, there has been a long standing demand for development of industrial clusters in the state to invite better investments and clearing of the backlog of VAT refunds. The former, as per the industry sources, needed support from both the centre and the state. 

According to reports, the budget is expected to focus on industrial development and agriculture. The punjab government is heavily backing on getting more investment to the state and development of industries is a major task to fulfil this goal.